Exhibit 4.2


 


EXECUTION VERSION







 


PISCES MIDCO, INC.


 


as Issuer


 


and


 


the Subsidiary Guarantors from time to time
party to the Indenture


 


and


 


WILMINGTON TRUST, NATIONAL ASSOCIATION


 


as Trustee


 


____


 


FIRST SUPPLEMENTAL INDENTURE


 


DATED AS OF APRIL 12, 2018


 


____


 


8.00% Senior Notes Due 2026


 




     


     


    

 


FIRST SUPPLEMENTAL INDENTURE, dated as of
April 12, 2018 (this “Supplemental Indenture”), among PISCES MIDCO, INC. (the “Company”),
as issuer, the Subsidiary Guarantors from time to time party to the Indenture referred to below and WILMINGTON TRUST, NATIONAL
ASSOCIATION, as Trustee under the Indenture referred to below.


 


WITNESSETH:


 


WHEREAS, the Company and the Trustee, are
party to an Indenture, dated as of April 12, 2018 (as amended, supplemented, waived or otherwise modified, the “Indenture”),
relating to the issuance from time to time by the Company of Notes;


 


WHEREAS, Section 901(8) of the Indenture
provides that the Company may provide for the issuance of Notes of any series as permitted by Section 301 therein;


 


WHEREAS, in connection with the issuance of
the 2026 Notes (as defined herein), the Company has duly authorized the execution and delivery of this Supplemental Indenture to
establish the forms and terms of the 2026 Notes as hereinafter described; and


 


WHEREAS, pursuant to Section 901 of the
Indenture, the parties hereto are authorized to execute and deliver this Supplemental Indenture to amend the Indenture, without
the consent of any Holder;


 


NOW, THEREFORE, in consideration of the foregoing
and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Company and the Trustee mutually
covenant and agree for the benefit of the Holders of the Notes as follows:


 


1. Defined Terms. As used in this Supplemental
Indenture, terms defined in the Indenture or in the preamble or recital hereto are used herein as so defined. The words “herein,”
“hereof” and “hereby” and other words of similar import used in this Supplemental Indenture refer to this
Supplemental Indenture as a whole and not to any particular section hereof.


 


2. Title of Notes. There shall be a
series of Notes of the Company designated the “8.00% Senior Notes due 2026” (the “2026 Notes”).


 


3. Maturity Date. The final Stated
Maturity of the 2026 Notes shall be April 15, 2026.


 




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4. Interest and Interest Rates. Interest
on the Outstanding principal amount of 2026 Notes will accrue at the rate of 8.00% per annum and will be payable semi-annually
in arrears on April 15 and October 15 in each year, commencing on October 15, 2018, to holders of record on the immediately preceding
April 1 and October 1, respectively (each such April 1 and October 1, a “Regular Record Date”). Interest on
the 2026 Notes will accrue from the most recent date to which interest has been paid or provided for or, if no interest has been
paid, from April 12, 2018, except that interest on any Additional 2026 Notes (as defined below) issued on or after the first Interest
Payment Date will accrue (or will be deemed to have accrued) from the most recent date to which interest has been paid or duly
provided for or, if no interest has been paid on such Additional 2026 Notes, from the Interest Payment Date immediately preceding
the date of issuance of such Additional 2026 Notes (or if the date of issuance of such Additional 2026 Notes is an Interest Payment
Date, from such date of issuance); provided that if any 2026 Note issued in exchange therefor are surrendered for exchange
on or after a record date for an Interest Payment Date that will occur on or after the date of such exchange, interest on such
Note received in exchange thereof will accrue from such Interest Payment Date.


 


5. No Limitation on Aggregate Principal
Amount. The aggregate principal amount of 2026 Notes that may be authenticated and delivered and Outstanding under the Indenture
is not limited. The aggregate principal amount of the 2026 Notes issued hereunder and under
the Indenture shall initially be $645.0 million. Subject to Section 407 of the Indenture, the Company may from time to time,
without the consent of the Holders, create and issue Additional Notes having the same terms and conditions as the 2026 Notes in
all respects or in all respects except for issue date, issue price and, if applicable, the first date on which interest accrues
and the first payment of interest thereon. Additional Notes issued in this manner will be consolidated with, and will form a single
series with, the 2026 Notes (any such Additional Notes, “Additional 2026 Notes”), unless otherwise specified
for Additional Notes in an applicable Notes Supplemental Indenture, or otherwise designated by the Company, as contemplated by
Section 301 of the Indenture.


 


6. Redemption. The Notes will be redeemable,
at the Company’s option, at any time prior to maturity in accordance with the provisions of this Section 6.


 


(a)       The
2026 Notes will be redeemable, at the Company’s option, in whole or in part, at any time and from time to time on and after
April 15, 2021 and prior to maturity at the applicable redemption price set forth below. The 2026 Notes will be so redeemable
at the following redemption prices (expressed as a percentage of principal amount), plus accrued and unpaid interest, if any,
to but not including the relevant Redemption Date (subject to the right of Holders of record on the relevant Regular Record Date
to receive interest due on the relevant Interest Payment Date falling prior to or on the Redemption Date pursuant to Section 307
of the Indenture), if redeemed during the 12-month period commencing on April 15 of the years set forth below:


 


	Redemption Period	 	Price	 
	2021	 	104.000	%
	2022	 	102.000	%
	2023 and thereafter	 	100.000	%




 




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(b)       In
addition, at any time and from time to time prior to April 15, 2021, the Company at its option may redeem 2026 Notes in an aggregate
principal amount equal to up to 40.0% of the original aggregate principal amount of the Notes (including the principal amount of
any Additional 2026 Notes, or any other Additional Notes of the same series as the 2026 Notes), with funds in an equal aggregate
amount (the “Redemption Amount”) not exceeding the aggregate proceeds of one or more Equity Offerings, at a
redemption price (expressed as a percentage of principal amount thereof) of 108.000%, plus accrued and unpaid interest, if any,
to but not including the Redemption Date (subject to the right of Holders of record on the relevant Regular Record Date to receive
interest due on the relevant Interest Payment Date falling prior to or on the Redemption Date pursuant to Section 307 of the
Indenture); provided, however, that an aggregate principal amount of 2026 Notes equal to at least 50.0% of the original
aggregate principal amount of 2026 Notes (including the principal amount of any Additional 2026 Notes, or any other Additional
Notes of the same series as the 2026 Notes) must remain outstanding immediately after each such redemption of Notes. Any amount
payable pursuant to this Section 6(b) may be funded from any source (including amounts in excess of the Redemption Amount).
Any notice of any such redemption may be given prior to the completion of the related Equity Offering, but in no event may be given
more than 180 days after the completion of the related Equity Offering.


 


(c)       At
any time prior to April 15, 2021, 2026 Notes may also be redeemed in whole or in part, at the Company’s option, at a price
(the “Redemption Price”) equal to 100.0% of the principal amount thereof plus the Applicable Premium (as defined
below) as of, and accrued and unpaid interest, if any, to but not including the Redemption Date (subject to the right of Holders
of record on the relevant Regular Record Date to receive interest due on the relevant Interest Payment Date falling prior to or
on the Redemption Date pursuant to Section 307 of the Indenture).


 


“Applicable Premium” means,
with respect to a 2026 Note at any Redemption Date, the greater of (i) 1.00% of the principal amount of such 2026 Note
and (ii) the excess of (A) the present value at such Redemption Date, calculated as of the date of the
applicable redemption notice, of (1) the redemption price of such 2026 Note on April 15, 2021 (such redemption price
being that described in Section 6(a)), plus (2) all required remaining scheduled interest payments due
on such 2026 Note through such date (excluding accrued and unpaid interest to the Redemption Date), computed using a discount rate
equal to the Treasury Rate plus 50 basis points, over (B) the principal amount of such 2026 Note on such Redemption
Date. Calculation of the Applicable Premium will be made by the Company or on behalf of the Company by such Person as the Company
shall designate; provided that such calculation shall not be a duty or obligation of the Trustee.


 


“Treasury Rate” means,
with respect to a Redemption Date, the weekly average yield to maturity at the time of computation of United States Treasury securities
with a constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H.15(519) that has become
publicly available at least two Business Days prior to the date of the applicable redemption notice (or, if such Statistical Release
is no longer published, any publicly available source of similar market data)) most nearly equal to the period from such Redemption
Date to April 15, 2021; provided, however, that if the period from the Redemption Date to such date is not equal
to the constant maturity of a United States Treasury security for which a weekly average yield is given, the Treasury Rate shall
be obtained by linear interpolation (calculated to the nearest one-twelfth of a year) from the weekly average yields of United
States Treasury securities for which such yields are given, except that if the period from the Redemption Date to such date is
less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity
of one year shall be used.


 




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(d)       Notwithstanding
clauses (a), (b) and (c) of this Section 6, in connection with any tender for all of any series of the 2026 Notes (including
pursuant to an Offer), if Holders of not less than 90.0% in the aggregate principal amount of the outstanding 2026 Notes of such
series (including the principal amount of any Additional 2026 Notes, or any other Additional Notes of the same series as the 2026
Notes) validly tender and do not withdraw such Notes in such tender offer and the Company, or any other Person making such tender
offer, purchases all of the 2026 Notes of such series (including any Additional 2026 Notes, or any other Additional Notes of the
same series as the 2026 Notes) validly tendered and not withdrawn by such Holders, the Company will have the right, upon notice
given not more than 30 days following such purchase pursuant to such tender offer, to redeem all of the 2026 Notes (including any
Additional 2026 Notes, or any other Additional Notes of the same series as the 2026 Notes) of such series that remain outstanding
following such purchase at a price in cash equal to the price offered to each Holder in such tender offer, plus, to the extent
not included in the tender offer payment, accrued and unpaid interest to but excluding the Redemption Date (subject to the right
of Holders of record on the relevant record date to receive interest due on the relevant Interest Payment Date falling prior to
or on the Redemption Date).


 


(e)       Any
redemption of Notes pursuant to this Section 6 may be made upon notice sent electronically to each Holder’s registered
address in accordance with Section 1005 of the Indenture, and, if applicable, the Company should notify the Trustee of such redemption
date, and the principal amount of Notes to be redeemed in accordance with Section 1003 of the Indenture. The Company may provide
in any redemption notice that payment of the redemption price and the performance of the Company’s obligations with respect
to such redemption may be performed by another Person.


 


(f)        Any
redemption of Notes pursuant to this Section 6 (including in connection with an Equity Offering, a Change of Control, other
transaction or event or otherwise) or notice thereof may, at the Company’s discretion, be subject to the satisfaction (or,
waiver by the Company in its sole discretion) of one or more conditions precedent, which may include consummation of any related
Equity Offering or the completion or occurrence of a Change of Control, Asset Disposition or other transaction or event, as the
case may be. If such redemption or notice is subject to satisfaction of one or more conditions precedent, such notice may state
that, in the Company’s discretion, the Redemption Date may be delayed until such time as any or all such conditions shall
be satisfied (or waived by the Company in its sole discretion), or such redemption may not occur and such notice may be rescinded
in the event that any or all such conditions shall not have been (or, in the Company’s sole determination, may not be) satisfied
(or waived by the Company in its sole discretion) by the Redemption Date, or by the Redemption Date so delayed. The Company, the
CD&R Investors, the GGC Investors, the Kenner Investors and their respective Affiliates may acquire the Notes whether by tender
offer, open market purchases, negotiated transactions or otherwise.


 




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7. [Reserved]


 


8. Form. The 2026 Notes shall be issued
substantially in the form set forth, or referenced, in Article II of the Indenture, and either Exhibit A or B attached to
the Indenture, in each case as provided for in Section 201 of the Indenture (as such form may be modified in accordance with
Section 301 of the Indenture).


 


9. Governing Law. THIS SUPPLEMENTAL
INDENTURE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. THE TRUSTEE, THE COMPANY, ANY
OTHER OBLIGOR IN RESPECT OF THE NOTES AND (BY THEIR ACCEPTANCE OF THE NOTES) THE HOLDERS AGREE TO SUBMIT TO THE JURISDICTION OF
ANY UNITED STATES FEDERAL OR STATE COURT LOCATED IN THE BOROUGH OF MANHATTAN, IN THE CITY OF NEW YORK IN ANY ACTION OR PROCEEDING
ARISING OUT OF OR RELATING TO THIS SUPPLEMENTAL INDENTURE.


 


10. Ratification of Indenture; Supplemental
Indentures Part of Indenture. Except as expressly amended hereby, the Indenture is in all respects ratified and confirmed and
all the terms, conditions and provisions thereof shall remain in full force and effect. This Supplemental Indenture shall form
a part of the Indenture for all purposes, and every Holder of Notes heretofore or hereafter authenticated and delivered shall be
bound hereby. The Trustee makes no representation or warranty as to the validity or sufficiency of this Supplemental Indenture
or as to the accuracy of the recitals to this Supplemental Indenture.


 


11. Counterparts. The parties hereto
may sign one or more copies of this Supplemental Indenture in counterparts, all of which together shall constitute one and the
same agreement.


 


12. Headings. The section headings
herein are for convenience of reference only and shall not be deemed to alter or affect the meaning or interpretation of any provisions
hereof.


 




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IN WITNESS WHEREOF, the parties hereto have
caused this Supplemental Indenture to be duly executed as of the date first above written.


 




	 	PISCES MIDCO, INC.
	 	 
	 	By:	 /s/ Theresa A. Gore
	 	 	 Name: Theresa A. Gore
	 	 	 Title:   Vice President and Secretary



 


[Signature
Page to Pisces First Supplemental Indenture]







 







     


     


    

 





	 	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Trustee
	 	 
	 	By:	 /s/ Joseph P. O’Donnell
	 	 	 Name: Joseph P. O’Donnell
	 	 	 Title:   Vice President







 


[Signature
Page to Pisces First Supplemental Indenture]